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Axial Fans Market to hit US$ 3,219.8 million, Globally, by 2028 at 4.3% CAGR: The Insight Partners

Introduction of low power consumption axial fans to Provide Growth Opportunities for Axial Fans Market during 2021–2028

NEW YORK, UNITED STATES, December 2, 2021 / -- According to our latest market study on “Axial Fans Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Speed, by Size, by Application, by Type, and End-User,” the market was valued at US$ 2,301.4 million in 2020 and is projected to reach US$ 3,219.8 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.

Strategic Insights

Report Coverage: Details
Market Size Value in: US$ 2,301.4 Million in 2020
Market Size Value by: US$ 3,219.8 Million by 2028
Growth rate: CAGR of 4.3% from 2021-2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 132
No. Tables: 218
No. of Charts & Figures: 108
Historical data available: Yes
Segments covered: Coverage by Speed, Application, Type, End User
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Low power axial fans are ideal for applications where only power input is available. Mechatronics’ low power fans are electronically commutated, providing the efficiency of a DC fan with the simplicity of connecting to power supply. Available with voltage input of 100VAC to 240VAC, a single model can be used in products for both 115VAC and 230VAC applications. Applications of low power fan include servers, networking equipment, power supplies, medical & dental equipment, battery charging systems, material processing equipment, food service equipment, and lighting. Low power axial fans of Mechatronics provide solutions where low total cost, design flexibility, quick turn-around, and excellent customer service are required. Further, these products reduce power consumption as much as 70% lower than that of standard axial fan models. Similarly, ebmpapst is a company offering axial fans with advanced technology.

The axial fans market is segmented on the basis of speed, size, application, type, end-user, and geography. Geographically, Europe held the largest share of the global axial fans market. The largest market share of this region is primarily attributed to the presence of major manufacturers in the region. The growing focus toward improving the quality of air in industrial and commercial setups is driving the demand for axial fans market. Moreover, positive support from regulatory authorities is further driving the market growth in the Europe region. 

Impact of COVID-19 Pandemic on Axial Fans Market

The outbreak of COVID-19 has created significant disruptions in primary industries such as food & beverage, energy & power, electronics & semiconductor, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global axial fans market as they are the major supply and demand sources for axial fans products and solutions. Also, applications such as vending machines, snow making machines, and HVAC systems, where axial fans play a crucial role have witnessed strategic decline in the adoption of the products, thus has created a negative impact in the market growth. 

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Market Insight – Axial Fans Market

The developed and developing Asian countries such as China, India, South Korea, and Australia provide a huge market growth perspective for many small and large players operating in the axial fans market. The rapid industrial development in these countries is projected to boost market growth during the forecast period. Axial fans have applications in a wide range of industries, such as cement, paper & wood, pharmaceuticals, steel, and food. Axial fans are used in these industries for handling critical processes that require drying, ventilation, and fume & hot air exhaust, among others. These types of fans are mainly applied in equipment dedicated to exchanging heat through environmental air. Cooling towers, air-cooled condensers, and air-cooled heat exchangers are other applications.

Axial Fans Market: Application

Based on application, the axial fans market has been segmented into radiator, cooling & refrigeration, ventilation, and others. The cooling & refrigeration segment accounted for the largest share of the axial fans market in 2020. Moreover, the ventilation segment is projected to grow at the fastest pace during the forecast period.

Axial Fans Market: Type

Based on type, the axial fans market has been segmented into AC, DC, and EC. The AC axial fans segment accounted for the largest share of the axial fans market in 2020. Moreover, the EC axial fans segment is projected to grow at the fastest pace during the forecast period.

Axial Fans Market: Competitive Landscape and Key Developments

Rosenberg Ventilatoren GmbH., Sofasco Fans., Sunonwealth Electric Machine Industry Co., Ltd, ZIEHL-ABEGG, OMRON Corporation, Hidria, Fulltech Electric Co., Ltd., Howden Group, COOLTRON Industrial Supply, and Oriental Motor USA Corp are among the key players in the global Axial Fans market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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